Mortgage bankers - Study guides, Class notes & Summaries

Champions School of Real Estate - Real Estate Finance exam Correctly Answered 2024 Loan-to-Value Ratio (LTV) - Answer -The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - Answer -Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - Answer -Cover...

45 Hour Post License Florida Exam Questions and Answers Latest 2024/2025 |100% Correct Answers. A residential transaction os defined in F.S. 475 as the sale of any: correct answers - Duplex - improved residential property of four units or fewer, including condominium units -unimproved property intended for four units or fewer - agricultural properties of ten acres or less - leases with options to purchase all or a portion of improved property of four or fewer residential units - dispositio...

Xinnix Ground School Exam Questions With Answers first-time homebuyer Someone who has never owned a home Move-up homebuyer Currently owns, or has previously owned a home and is looking to move up in price, location, size, etc. Relocation Homebuyer Purchasing a new home in a different city or state due to job transfer or personal desire Affluent homebuyer Well seasoned in home buying process. Knowledgeable, financially savvy, busy. Empty-nester homebuyer Experienced home...

mortgage Broker - Answer Functions as a middleman between the borrower and the lender, negotiating, selling or arranging loans to be delivered to large investors Mortgage Banker - Answer Provide their own funds for the purpose of providing mortgage financing Correspondent Lender - Answer Smaller in scale then mortgage bankers or brokers, these lenders typically extended loans with their own funds at their own risk Origination - Answer The process of creating a new mortgage loan ...

A freeway has made commuting to a distant suburban neighborhood easier, resulting in an increase in new home sales. This increase in sales is an example of the economic characteristic of A.) Scarcity B.) Fixity C.) Situs D.) Modification - accurate answers d.) Modification The supply of real estate is affected by A.) Land cost B.) Building codes C.) Government regulations D.) All of these - accurate answers d.) All of these The least important factor affecting demand for real ...

Texas Principles of Real Estate Express Exam ( ANSWERED ) What kind of professionals manage the legal aspects of a development project? - ANS Real Estate attorneys, title companies, surveyors, property insurance companies and government regulatory officials What types of professionals are involved in the transfer of rights and interest in Real Estate? - ANS Titles companies, Real Estate Brokers/ Sales Persons, Mortgage Brokers, Mortgage Bankers, Appraisers, Insurers Property is classi...

Xinnix SOAR Final Exam Questions and Answers 100% Pass FNMA and FHLMC are what type of loan? - Answer- conforming the main purpose of the Consumer financial protection bureau (CFPB) is to help consumers understand the terms of their agreements with financial companies - Answer- true conventional loans are not insured by the federal government - Answer- true Agency loans include FHA and VA loans - Answer- true the proceeds of a loan for cash out refinance may be used by the borrower to in...

What's the difference between an addendum and an amendment? An addendum needs to be signed by all affected parties, but an amendment does not. An addendum is attached to a contract to create additional terms, and an amendment changes the terms within an existing contract. All contracts require amendments, but not all contracts require addenda. TREC promulgates amendments but does not promulgate addenda. correct answersAn addendum is attached to a contract to create additional terms, and an ...

BA300 Final Exam Questions And Answers On April 11, 2011, NY Times reported that the Garnett news corp. decided to require lower ranked employees take unpaid furlough days during the coming yr. At the same time, according to the article, the company substantially increased the pay of the 2 top execs. There compensation moves are LEAST consistent w/: Rawls Theory of Justice In a Nov. 23, 2011 , Busweek column, prof. Barry Schwartz wrote that " some might say banking has no moral dime...

Name Clas Dat : s: e: CHAPTER 01—THE BUSINESS OF BANKING 1. A bank is a not-for-profit organization. a. b. True False False 1 BNKG.CFFT.3.LO: 1.1.1 - LO: 1.1.1 ANSWER: POINTS: LEARNING OBJECTIVES: 2. All federally chartered banks must be corporations. a. True ANSWER: POINTS: LEARNING OBJECTIVES: b. False True 1 BNKG.CFFT.3.LO: 1.1.1 - LO: 1.1.1 3. Commercial banks offer their services only to businesses. ANSWER: POINTS: LEARNING OBJECTIVES: 5. Issuing credit cards is ...